Credit Manager

Job Description

Thecreditmanagerpositionis responsible for the entire credit granting process,and billcollection, including the consistent application of a credit policy. Also, manage and ensure that thehotelachieves optimum performance and achieves the required credit targets.Periodic credit reviews of existing customers, and the assessment of the creditworthiness of potential customers, with the goal of optimizing themixof company sales andbad debtlosses.CREDIT MANAGER DUTIES AND RESPONSIBILITIES:

• Manage relations with collection agencies.
• Manage relations with credit reporting agencies.
• Manage relations with credit insurance providers.
• Manage relations with the sales department.
• Manage allaccountqueries and disputes.
• ManageAccounts Receivableand ensure all debtor?s accounts are reconciled regularly.
• Daily review of the Accounts Receivableledgerand monitor incoming payments.
• Responsible forAgeingof Debtors and maintaining the same under control.
• Responsible for compiling all group billing.
• Focus on minimizing the AR outstandingbalance.
• Responsible for maintaining the debtor?s ledger with regular review of the aged accounts.
• Monitor the AR ledger on a daily basis, If any decreases in pancies are found then corrective mare ensures to be taken after coordinating with thePMSvendor.
• Ensuring prompt, accurate and efficient system for billing of current and aged accounts.
• Review the ARAgingreport on a daily basis.
• Scrutinizing all accounts to ensure adherence to the credit policy;including pursuing and collecting delinquent accounts, providingstatusreports of uncollectable accounts and referring delinquent accounts to a collection agency.
• Collaborating with managers to ensure that all associated accounting requirements are adhered to in accordance with established procedures/time lines.
• Supervise Accounts Assistants regarding accurate and timely billing, processing of credit card inquiries and chargebacks, billing ofFITaccounts, processing of advance deposits and advance deposit refunds.
• Scheduleand precedes the monthly credit meetings.
• Properly motivate the credit and collections staff.
• Reviewing Credit/Accounts Receivable operation and recommending/implementing improvements.
• Work with the Finance Manager to build effective working relationships with internal and external customers.
• Other special duties as and when assigned by theFinancial controller.
• Review theGuestLedger High Balance report daily and reporting discrepancies, ensuringcheck-in/check-outprocedures are followed.
• Administer credit processes and policies for other departments in the hotel.
• Ensure the accuracy of allchargesand credits to the various accounts and that they are properly posted on a timely basis.
• Ensure the timely credit collections of all outstanding payments.
• Follow up on all overdue accounts and send todebtcollectors, as required.
• Monitor any unallocated payments from customers and apply the same with future bills.
• Monitorcredit limitsof all outstanding accounts.
• Check and verify that all open Paymaster accounts were justified and should comply with company?s policy and procedure.
• Ensure that all credit applications properlydocumentedapproved by the management and are based on hotel?s policy and procedure.
• Perform anaudittrail for all debtors accounts to ensure that properdocumentationis in place and charges are accurate.
• Respond and resolve customer queries.
• Reconcile all unpaid andshort-paid aged accounts.
• Reservefor doubtful accounts is maintained in accordance with company policy and the bad debt reserve report is in agreement with the G/L.
• Assign AR numbers to the approved accounts.
• Assign credit limit to the approved accounts.
• Black list accounts that are defaulters.
• Ensure compliance on Payment Card Industry (PCI) policy.

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